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After paying IMF, Greece looks to cover remaining funding needs for March and April
EconomyProgrammeΤhe government has covered a large part of its funding needs for March, which mainly comprised... that the Finance Ministry is mainly working on using existing sources to meet its obligations rather than to opt... in question mainly involve 700 million euros from IKA (the largest Social Security Organisation), 450
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Greek current account deficit widens to 847 mln in Jan as exports fall further
EconomyMacroeconomyin the travel surplus, which more than doubled YoY to 10.63 million. This mainly reflects an increase..., residents’ external assets posted a net increase of 1.3 billion mainly reflecting a rise of 2 billion.... It is noteworthy that under other investment, a net increase of 9.7 billion was posted in assets, mainly
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Greek PMI edges up in March but exports, factory output fall
EconomyMacroeconomymonth in a row at a pace broadly unchanged from February’s 19-month record rate. This mainly reflected... was maintained for the fourth consecutive month mainly reflecting higher employment in the consumer goods... for steel and imported items. At the same time, manufacturers lowered their output prices mainly due
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Updated Greek reform proposals see 2015 primary surplus reaching programme target 3 pct
EconomyProgrammepolitical uncertainty. The domestic economy is expected to expand by 2.9 percent in 2016 mainly led..., mainly stemming from public tender/auctions for TV licences (350 million) and regulation of e-gaming..., which are mainly related to the reintroduction of the 13th pension for low-income pensioners (cost
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Budget primary surplus up to 1.73 bln in Q1 as gov't holds back expenditure
EconomyMacroeconomyfell 12.3 percent to 1.15 billion euros in March, mainly due to the lack of property taxes - the last..., 514 million short of target mainly due to lower revenues from direct tax arrears and income tax... billion down 5.3 percent and 1.18 billion below target. The significant outperformance to date mainly
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBanking) to 245 million euros, mainly due to the elimination of several one-off items that burdened Q4 results..., mainly led by a contraction of the time deposit rate by 23 bps QoQ to 1.83 percent. Note that the higher...-offs of 300 million euros in the quarter. The slight rise mainly stems from an almost 1 pp increase
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Alpha Bank reports lower losses of 115.8 mln in Q1 2015
EconomyBankingquarter (Q1) of 2015, from 440.2 million in Q4 2014. The improving bottom-line result mainly reflects... 16.7 percent QoQ to 285.5 million. Compared to Q1 2014, staff costs are down by 18.2 percent, mainly... billion, mainly reflecting FX translation from shipping loans in Greece and CHF mortgages abroad
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Greek GDP falls by 0.2 pct in Q1 as uncertainty impacts on investments
EconomyMacroeconomya cumulative drop of more than 24 percent since 2008. This mainly results from a nosedive... quarter by 0.6 percent QoQ from 1.6 percent in Q4. This was mainly led by export of services (-1.7... to decelerate to 4.1 percent in 2015 and accelerate to 5.1 percent in 2016, mainly led by tourism
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Newsletter 29 - 05/06/2015
this year. Those measures mainly involve introducing a new VAT rate of 11 percent for to include... anticipated at that time. Those measures mainly involved increasing the hotel VAT rate from 6.5... for the ninth successive month. The reduction in output was mainly due to fewer new orders, largely
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomyfigure for the first half outperformed target by 3.12 billion euros, mainly reflecting lower primary... by 1.65 billion mainly reflecting a significant underperformance of income tax. The latter continued... percent in the 6-month period to 3.89 billion, 1.43 billion below target. This is mainly attributed
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